Texas Police Retrieve $32,000 from Bitcoin ATM Amid Legal Concerns
According to PANews, Texas police recently used power tools to extract $32,000 from a Bitcoin Depot ATM. Chris Ryan, Chief Legal Officer of Bitcoin Depot, criticized the action as potentially unlawful and an overreach by U.S. law enforcement. Scott Buchanan, the company's Chief Operating Officer, stated that the machine was irreparably damaged and would need complete replacement due to the physical breach.
A report from the FBI highlighted that in 2024, Americans lost at least $247 million through cryptocurrency self-service terminals, marking a 31% increase from 2023. The incident raises questions about the legality and ethics of law enforcement's approach to handling cryptocurrency-related cases.